- Associated Press - Monday, December 1, 2014

CARY, N.C. (AP) - North Carolina’s newly formed public-private partnership formed to lead the state’s corporate recruitment efforts has a new leader.

Christopher Chung was named Monday as the chief executive officer of the Economic Development Partnership of North Carolina, which began operations in October. The partnership was created by Gov. Pat McCrory and state lawmakers to take over corporate recruitment efforts previously housed in the N.C. Department of Commerce.

The 38-year-old Chung previously launched the Missouri Partnership, a similar public-private entity. He will replace interim CEO Richard Lindenmuth, who will still work for the North Carolina partnership as a consultant.

The non-profit partnership is set to receive about $17.5 million a year in state funding. Chung will be paid an annual salary of $225,000, of which $120,000 will come from public funds.

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